Tuesday, March 07, 2006

Plans call for luxury condo high-rise in Atlantic City

Developers in Florida and Pennsylvania are working on what appears to be a $90 million, 38-story luxury condominium complex on the Board-walk next to the Showboat Casino-Hotel.

The plans now in the city's planning office show 25,000 square feet of retail space and 425 one- and two-bedroom condominium units. The top two floors would hold 10 two-story, two-bedroom units. The plans say the project could be built in two years.

The proposal could mean the end of rumors that a smaller "boutique casino" would be built in the same general area of the city's South Inlet neighborhood. How-ever, in the filings, the plans refer to the building as both “The North Beach Club Resort & Residential Development” and "North Beach Club Casino Resort and Residen-ces."

The developers, North Beach Holdings LLC, also own about 20 acres of vacant land in that neighborhood, assessed at $20,933,900.

The plans come at a time when city development seems increasingly geared toward upscale resort high-rise condominiums. It also comes as the city is contemplating updating its master plan to allow more residential development in the Southeast Inlet.

Click Here for the Full Article